HubSpot, Inc(NYSE:HUBS) 
HubSpot, Inc. provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes marketing, sales, service, and content management systems, as well as integrated applications, such as search engine ...
Website: http://www.hubspot.com
Founded: 2006
IPO Price: $25 (Oct 09, 2014)
Full Time Employees: 7,500 (Sep 2023)
Co-Founder: Dharmesh Shah
CEO: Yamini Rangan
Sector: Technology
Industry: Software-Application
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At a glance:
- Integrated CRM Platform for SMBs and Mid-Market: HubSpot provides a comprehensive suite of cloud-based software (CRM, Marketing, Sales, Service, CMS, Operations Hubs) designed to help small to medium-sized businesses and mid-market companies grow by attracting, engaging, and delighting customers.
- Subscription-Based SaaS Model with Recurring Revenue: The company operates on a software-as-a-service (SaaS) model, generating predictable recurring revenue from subscriptions to its various product 'hubs' and add-ons, with pricing tiers that scale with customer needs and size.
- Pioneer of Inbound Methodology and Ecosystem Growth: HubSpot is known for championing the inbound marketing philosophy, focusing on attracting customers through valuable content and experiences. It continues to expand its product capabilities, integrations, and partner ecosystem to drive customer acquisition and retention.
- Consistent Revenue Growth and Expanding Global Footprint: HubSpot has demonstrated consistent year-over-year revenue growth, driven by increasing customer adoption across its product lines and a growing international presence, indicating strong market demand for its integrated platform.
Bull Thesis:
- Expanding Platform & Ecosystem Strategy: HubSpot's strategy to offer a comprehensive platform (Marketing, Sales, Service, CMS, Operations Hubs) increases customer stickiness, average revenue per user (ARPU), and reduces churn by becoming an indispensable operating system for businesses. This 'flywheel' effect creates a powerful moat.
- Strong SMB/Mid-Market Penetration & Upsell Potential: HubSpot has a dominant position in the vast and growing SMB and mid-market segments. The modular nature of its Hubs allows for significant upsell opportunities as customers grow, adopt more products, and upgrade to higher tiers, driving consistent revenue expansion.
- Significant International Growth Opportunities: HubSpot continues to expand its global footprint, with substantial untapped markets outside North America offering long-term growth runways. Increased localization, partnerships, and brand recognition in these regions can fuel sustained customer acquisition.
- Proactive AI Integration & Innovation: HubSpot is actively integrating AI across its platform (e.g., AI assistants for content creation, sales automation, customer service). This enhances product value, drives efficiency for users, and helps maintain a competitive edge against rivals by offering cutting-edge tools.
Bear Thesis:
- Intense Competition & Pricing Pressure: HubSpot operates in a highly competitive landscape with well-funded rivals (e.g., Salesforce, Microsoft Dynamics, Adobe, Zoho, Oracle) across all its product categories. This intense competition can lead to pricing pressure, increased marketing spend, and market share battles.
- Economic Sensitivity of SMB/Mid-Market Segment: While a strength, the SMB/mid-market segment is more susceptible to economic downturns. This could impact new customer acquisition rates, increase churn, and lead to slower upgrades or downgrades, thereby affecting overall revenue growth.
- High Valuation & Path to Consistent Profitability: Despite improving, HubSpot's stock often trades at a high valuation relative to its current GAAP profitability. Investors may demand a clearer and faster path to consistent, robust GAAP profitability and free cash flow generation, making the stock vulnerable to any growth deceleration or market corrections.
- Integration Challenges with Acquisitions: Recent acquisitions (e.g., Clearbit, Campaign Monitor) present integration risks, both technologically and culturally. Ineffective integration could divert resources, dilute focus from core product development, or fail to deliver expected synergies, impacting overall performance.
Main Competitors:
- Salesforce, Inc. ($CRM) (Sales Cloud, Service Cloud, Marketing Cloud (Pardot), Experience Cloud), Salesforce is a dominant force in the CRM market, offering a comprehensive suite of cloud-based applications for sales, service, marketing, and analytics. While often perceived as enterprise-focused, its various clouds and acquisitions (like Pardot for B2B marketing automation) directly compete with HubSpot's Sales, Service, and Marketing Hubs, particularly for mid-market and larger SMBs seeking extensive customization and scalability.
- Zoho Corporation (Zoho One (suite including Zoho CRM, Zoho Marketing Automation, Zoho Desk, Zoho Sites)), Zoho offers a vast suite of business applications under 'Zoho One' that directly competes with HubSpot's all-in-one platform strategy. They provide integrated solutions for CRM, marketing automation, customer support, website building, and more, often at a highly competitive price point, making them a strong alternative for SMBs and mid-market companies looking for comprehensive, cost-effective tools.
- Freshworks Inc. ($FRSH) (Freshsales (CRM), Freshdesk (Service), Freshmarketer (Marketing)), Freshworks provides a suite of cloud-based business software designed for SMBs and mid-market, directly competing with HubSpot's core offerings. Freshsales competes with Sales Hub, Freshdesk with Service Hub, and Freshmarketer with Marketing Hub. They emphasize ease of use, quick setup, and affordability, appealing to businesses seeking integrated solutions without the complexity of enterprise systems.
- Microsoft Corporation ($MSFT) (Dynamics 365 Sales, Dynamics 365 Marketing, Dynamics 365 Customer Service), Microsoft Dynamics 365 offers a suite of intelligent business applications that combine CRM and ERP functionalities. Its Sales, Marketing, and Customer Service modules directly compete with HubSpot's respective hubs. Dynamics 365 often appeals to businesses already integrated into the Microsoft ecosystem, offering deep integration with other Microsoft products like Office 365 and Azure, and providing a scalable solution for mid-market to enterprise clients.
Moat:
HubSpot's primary competitive advantage (moat) lies in its integrated, all-in-one CRM platform, designed for ease of use and built around the inbound methodology. This unified approach reduces complexity and data silos for SMBs and mid-market companies, offering a seamless experience across marketing, sales, service, CMS, and operations. Its strong brand, extensive content ecosystem, and partner network further enhance its stickiness. However, HubSpot faces intense competition from several fronts. Enterprise-grade platforms like Salesforce and Microsoft Dynamics 365 compete by offering highly customizable and scalable solutions, often appealing to larger mid-market clients or those already embedded in their ecosystems. Meanwhile, other all-in-one providers like Zoho and Freshworks directly challenge HubSpot's core market with comprehensive, often more cost-effective, and similarly user-friendly suites. Additionally, HubSpot competes with numerous best-of-breed point solutions (e.g., for email marketing, sales CRM, or customer service) that might offer deeper functionality in a specific area, requiring businesses to weigh the benefits of integration versus specialized features.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||||||||||||||||||||||||||||||||
subscription | 791,678,000 | 744,532,000 | 698,728,000 | 687,305,000 | 654,738,000 | 623,763,000 | 603,798,000 | 570,226,000 | 545,832,000 | 517,678,000 | 489,743,000 | 458,151,000 | 435,030,000 | 412,401,000 | 384,956,000 | 358,658,000 | 328,975,000 | 300,423,000 | 270,263,000 | 244,323,000 | 221,058,000 | 196,415,000 | 191,229,000 | 179,086,000 | 167,078,000 | 155,876,000 | 144,226,000 | 136,804,000 | 125,478,000 | 116,566,000 | 108,602,000 | 101,697,000 | 93,164,000 | 84,363,000 | 77,503,000 | 72,418,000 | 66,505,000 | 60,916,000 | 54,936,000 | 49,617,000 | 44,091,000 | 39,273,000 | 34,939,000 | 31,325,000 | 27,806,000 |
professional services and other | 17,840,000 | 16,334,000 | 15,409,000 | 15,873,000 | 14,983,000 | 13,467,000 | 13,616,000 | 11,689,000 | 11,725,000 | 11,460,000 | 11,877,000 | 11,505,000 | 8,928,000 | 9,354,000 | 10,643,000 | 10,651,000 | 10,220,000 | 10,365,000 | 11,102,000 | 7,742,000 | 7,327,000 | 7,193,000 | 7,739,000 | 7,100,000 | 6,543,000 | 7,379,000 | 7,572,000 | 7,218,000 | 6,348,000 | 6,010,000 | 5,954,000 | 4,844,000 | 4,562,000 | 4,730,000 | 4,749,000 | 4,026,000 | 4,084,000 | 4,058,000 | 4,024,000 | 3,509,000 | 3,620,000 | 3,668,000 | 3,227,000 | 2,831,000 | 2,642,000 |
total revenue | 809,518,000 | 760,866,000 | 714,137,000 | 703,178,000 | 669,721,000 | 637,230,000 | 617,414,000 | 581,915,000 | 557,557,000 | 529,138,000 | 501,620,000 | 469,656,000 | 443,958,000 | 421,755,000 | 395,599,000 | 369,309,000 | 339,195,000 | 310,788,000 | 281,365,000 | 252,065,000 | 228,385,000 | 203,608,000 | 198,968,000 | 186,186,000 | 173,621,000 | 163,255,000 | 151,798,000 | 144,022,000 | 131,826,000 | 122,576,000 | 114,556,000 | 106,541,000 | 97,726,000 | 89,093,000 | 82,252,000 | 76,444,000 | 70,589,000 | 64,974,000 | 58,960,000 | 53,126,000 | 47,711,000 | 42,941,000 | 38,166,000 | 34,156,000 | 30,448,000 |
yoy | 20.87% | 19.40% | 15.67% | 20.84% | 20.12% | 20.43% | 23.08% | 23.90% | 25.59% | 25.46% | 26.80% | 27.17% | 30.89% | 35.71% | 40.60% | 46.51% | 48.52% | 52.64% | 41.41% | 35.38% | 31.54% | 24.72% | 31.07% | 29.28% | 31.70% | 33.19% | 32.51% | 35.18% | 34.89% | 37.58% | 39.27% | 39.37% | 38.44% | 37.12% | 39.50% | 43.89% | 47.95% | 51.31% | 54.48% | 55.54% | 56.70% | ||||
qoq | 6.39% | 6.54% | 1.56% | 5.00% | 5.10% | 3.21% | 6.10% | 4.37% | 5.37% | 5.49% | 6.81% | 5.79% | 5.26% | 6.61% | 7.12% | 8.88% | 9.14% | 10.46% | 11.62% | 10.37% | 12.17% | 2.33% | 6.87% | 7.24% | 6.35% | 7.55% | 5.40% | 9.25% | 7.55% | 7.00% | 7.52% | 9.02% | 9.69% | 8.32% | 7.60% | 8.29% | 8.64% | 10.20% | 10.98% | 11.35% | 11.11% | 12.51% | 11.74% | 12.18% | |
cost of revenues: | |||||||||||||||||||||||||||||||||||||||||||||
total cost of revenues | 133,518,000 | 122,161,000 | 115,107,000 | 72,482,000 | 99,324,000 | 95,517,000 | 95,088,000 | 64,213,500 | 87,526,000 | 87,286,000 | 82,046,000 | 58,499,500 | 82,127,000 | 78,931,000 | 72,936,000 | 46,804,500 | 69,606,000 | 62,877,000 | 54,734,000 | 29,916,000 | 42,603,000 | 38,777,000 | 38,285,000 | 23,495,750 | 33,263,000 | 31,142,000 | 29,578,000 | 18,248,250 | 25,765,000 | 24,851,000 | 22,377,000 | 13,668,250 | 19,010,000 | 18,591,000 | 17,072,000 | 11,244,500 | 15,812,000 | 15,195,000 | 13,971,000 | 13,707,000 | 12,478,000 | 11,273,000 | 10,465,000 | 10,523,000 | 9,705,000 |
gross profit | 676,000,000 | 638,705,000 | 599,030,000 | 599,841,000 | 570,397,000 | 541,713,000 | 522,326,000 | 493,280,000 | 470,031,000 | 441,852,000 | 419,574,000 | 389,395,000 | 361,831,000 | 342,824,000 | 322,663,000 | 297,670,000 | 269,589,000 | 247,911,000 | 226,631,000 | 204,770,000 | 185,782,000 | 164,831,000 | 160,683,000 | 150,211,000 | 140,358,000 | 132,113,000 | 122,220,000 | 116,658,000 | 106,061,000 | 97,725,000 | 92,179,000 | 85,485,000 | 78,716,000 | 70,502,000 | 65,180,000 | 59,557,000 | 54,777,000 | 49,779,000 | 44,989,000 | 39,419,000 | 35,233,000 | 31,668,000 | 27,701,000 | 23,633,000 | 20,743,000 |
yoy | 18.51% | 17.90% | 14.69% | 21.60% | 21.35% | 22.60% | 24.49% | 26.68% | 29.90% | 28.89% | 30.03% | 30.81% | 34.22% | 38.29% | 42.37% | 45.37% | 45.11% | 50.40% | 41.04% | 36.32% | 32.36% | 24.77% | 31.47% | 28.76% | 32.34% | 35.19% | 32.59% | 36.47% | 34.74% | 38.61% | 41.42% | 43.53% | 43.70% | 41.63% | 44.88% | 51.09% | 55.47% | 57.19% | 62.41% | 66.80% | 69.85% | ||||
qoq | 5.84% | 6.62% | -0.14% | 5.16% | 5.30% | 3.71% | 5.89% | 4.95% | 6.38% | 5.31% | 7.75% | 7.62% | 5.54% | 6.25% | 8.40% | 10.42% | 8.74% | 9.39% | 10.68% | 10.22% | 12.71% | 2.58% | 6.97% | 7.02% | 6.24% | 8.09% | 4.77% | 9.99% | 8.53% | 6.02% | 7.83% | 8.60% | 11.65% | 8.17% | 9.44% | 8.73% | 10.04% | 10.65% | 14.13% | 11.88% | 11.26% | 14.32% | 17.21% | 13.93% | |
gross margin % | 83.51% | 83.94% | 83.88% | 85.30% | 85.17% | 85.01% | 84.60% | 84.77% | 84.30% | 83.50% | 83.64% | 82.91% | 81.50% | 81.29% | 81.56% | 80.60% | 79.48% | 79.77% | 80.55% | 81.24% | 81.35% | 80.96% | 80.76% | 80.68% | 80.84% | 80.92% | 80.51% | 81.00% | 80.46% | 79.73% | 80.47% | 80.24% | 80.55% | 79.13% | 79.24% | 77.91% | 77.60% | 76.61% | 76.30% | 74.20% | 73.85% | 73.75% | 72.58% | 69.19% | 68.13% |
operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
research and development | 227,714,000 | 237,340,000 | 220,100,000 | 213,713,000 | 191,185,000 | 198,180,000 | 175,637,000 | 163,234,000 | 156,871,000 | 169,955,000 | 127,683,000 | 116,335,000 | 114,038,000 | 118,914,000 | 92,736,000 | 82,997,000 | 78,473,000 | 72,104,000 | 68,396,000 | 55,563,000 | 54,456,000 | 49,372,000 | 46,202,000 | 42,757,000 | 39,847,000 | 40,456,000 | 35,177,000 | 32,005,000 | 30,761,000 | 28,485,000 | 26,352,000 | 22,286,000 | 18,828,000 | 15,889,000 | 13,370,000 | 12,815,000 | 12,100,000 | 11,278,000 | 9,804,000 | 8,670,000 | 8,128,000 | 8,158,000 | 7,501,000 | 11,140,000 | 4,858,000 |
sales and marketing | 355,268,000 | 339,879,000 | 326,697,000 | 314,834,000 | 309,928,000 | 293,794,000 | 300,282,000 | 281,137,000 | 271,448,000 | 265,294,000 | 250,683,000 | 235,133,000 | 229,541,000 | 224,262,000 | 197,134,000 | 180,845,000 | 170,016,000 | 157,799,000 | 141,017,000 | 127,851,000 | 119,299,000 | 102,600,000 | 102,328,000 | 90,418,000 | 91,283,000 | 84,079,000 | 74,905,000 | 70,960,000 | 71,293,000 | 65,281,000 | 59,910,000 | 57,575,000 | 57,904,000 | 50,708,000 | 46,672,000 | 47,116,000 | 41,193,000 | 39,140,000 | 35,198,000 | 31,572,000 | 30,868,000 | 26,291,000 | 23,897,000 | 24,109,000 | 21,680,000 |
general and administrative | 80,747,000 | 84,995,000 | 78,633,000 | 80,952,000 | 77,928,000 | 72,597,000 | 68,858,000 | 69,710,000 | 61,308,000 | 61,222,000 | 57,405,000 | 51,411,000 | 50,465,000 | 51,898,000 | 43,947,000 | 42,066,000 | 36,027,000 | 34,610,000 | 32,250,000 | 28,997,000 | 27,488,000 | 26,484,000 | 26,255,000 | 25,194,000 | 23,300,000 | 23,303,000 | 21,174,000 | 21,525,000 | 19,057,000 | 18,011,000 | 17,241,000 | 15,057,000 | 14,110,000 | 14,482,000 | 13,138,000 | 13,446,000 | 11,435,000 | 10,391,000 | 9,848,000 | 9,626,000 | 9,527,000 | 8,541,000 | 7,715,000 | 8,336,000 | 5,162,000 |
restructuring | 1,037,000 | 1,105,000 | 1,080,000 | 1,143,000 | 987,000 | 1,077,000 | 782,000 | 3,547,000 | 846,000 | 63,880,000 | 28,570,000 | ||||||||||||||||||||||||||||||||||
total operating expenses | 664,766,000 | 663,319,000 | 626,510,000 | 610,642,000 | 580,028,000 | 565,648,000 | 545,559,000 | 517,628,000 | 490,473,000 | 560,351,000 | 464,341,000 | 402,879,000 | 394,044,000 | 395,074,000 | 333,817,000 | 305,908,000 | 284,516,000 | 264,513,000 | 241,663,000 | 212,411,000 | 201,243,000 | 178,456,000 | 174,785,000 | 158,369,000 | 154,430,000 | 147,838,000 | 131,256,000 | 124,490,000 | 121,111,000 | 111,777,000 | 103,503,000 | 94,918,000 | 90,842,000 | 81,079,000 | 73,180,000 | 73,377,000 | 64,728,000 | 60,809,000 | 54,850,000 | 49,868,000 | 48,523,000 | 42,990,000 | 39,113,000 | 43,585,000 | 31,700,000 |
income from operations | 11,234,000 | -24,614,000 | -27,480,000 | -10,801,000 | -9,631,000 | -23,935,000 | -23,233,000 | -24,348,000 | -20,442,000 | -118,499,000 | -44,767,000 | -13,484,000 | -32,213,000 | -52,250,000 | -11,154,000 | -8,238,000 | -14,927,000 | -16,602,000 | -15,032,000 | -7,641,000 | -15,461,000 | -13,625,000 | -14,102,000 | -8,158,000 | -14,072,000 | -15,725,000 | -9,036,000 | -7,832,000 | -15,050,000 | -14,052,000 | -11,324,000 | -9,433,000 | -12,126,000 | -10,577,000 | -8,000,000 | -13,820,000 | -9,951,000 | -11,030,000 | -9,861,000 | -10,449,000 | -13,290,000 | -11,322,000 | -11,412,000 | -19,952,000 | -10,957,000 |
yoy | -216.64% | 2.84% | 18.28% | -55.64% | -52.89% | -79.80% | -48.10% | 80.57% | -36.54% | 126.79% | 301.35% | 63.68% | 115.80% | 214.72% | -25.80% | 7.81% | -3.45% | 21.85% | 6.59% | -6.34% | 9.87% | -13.35% | 56.06% | 4.16% | -6.50% | 11.91% | -20.20% | -16.97% | 24.11% | 32.85% | 41.55% | -31.74% | 21.86% | -4.11% | -18.87% | 32.26% | -25.12% | -2.58% | -13.59% | -47.63% | 21.29% | ||||
qoq | -145.64% | -10.43% | 154.42% | 12.15% | -59.76% | 3.02% | -4.58% | 19.11% | -82.75% | 164.70% | 232.00% | -58.14% | -38.35% | 368.44% | 35.40% | -44.81% | -10.09% | 10.44% | 96.73% | -50.58% | 13.48% | -3.38% | 72.86% | -42.03% | -10.51% | 74.03% | 15.37% | -47.96% | 7.10% | 24.09% | 20.05% | -22.21% | 14.64% | 32.21% | -42.11% | 38.88% | -9.78% | 11.85% | -5.63% | -21.38% | 17.38% | -0.79% | -42.80% | 82.09% | |
operating margin % | 1.39% | -3.23% | -3.85% | -1.54% | -1.44% | -3.76% | -3.76% | -4.18% | -3.67% | -22.39% | -8.92% | -2.87% | -7.26% | -12.39% | -2.82% | -2.23% | -4.40% | -5.34% | -5.34% | -3.03% | -6.77% | -6.69% | -7.09% | -4.38% | -8.11% | -9.63% | -5.95% | -5.44% | -11.42% | -11.46% | -9.89% | -8.85% | -12.41% | -11.87% | -9.73% | -18.08% | -14.10% | -16.98% | -16.72% | -19.67% | -27.86% | -26.37% | -29.90% | -58.41% | -35.99% |
other income | -2,346,000 | 1,094,000 | -2,309,000 | 2,913,000 | -565,000 | 1,784,000 | 13,161,000 | 330,000 | -794,000 | -6,246,000 | -1,185,000 | -3,091,000 | 3,692,000 | -974,000 | 9,877,000 | 528,000 | 660,000 | -56,000 | -365,000 | -202,000 | -333,000 | 241,000 | -186,000 | -55,000 | 628,000 | 94,750 | 302,000 | ||||||||||||||||||
interest income | 14,252,000 | 18,290,000 | 20,564,000 | 21,829,000 | 21,780,000 | 20,370,000 | 18,727,000 | 18,633,000 | 16,181,000 | 13,542,000 | 10,472,000 | 7,778,000 | 4,658,000 | 2,050,000 | 515,000 | 127,000 | 230,000 | 341,000 | 475,000 | 623,000 | 958,000 | 2,135,000 | 4,057,000 | 4,646,000 | 5,185,000 | 5,424,000 | 4,174,000 | 2,844,000 | 2,416,000 | 2,092,000 | 1,824,000 | 1,526,000 | 1,274,000 | 734,000 | 303,000 | 250,000 | 224,000 | 201,000 | 179,000 | 149,000 | 131,000 | 101,000 | 10,000 | 42,000 | |
interest expense | -4,000 | -227,000 | -644,000 | -949,000 | -936,000 | -901,000 | -935,000 | -984,000 | -950,000 | -937,000 | -930,000 | -940,000 | -923,000 | -949,000 | -950,000 | -5,906,000 | -7,798,000 | -7,179,000 | -9,399,000 | -7,226,000 | -7,062,000 | -16,809,000 | -5,953,000 | -5,872,000 | -5,760,000 | -5,673,000 | -5,513,000 | -5,493,000 | -5,393,000 | -5,326,000 | -5,174,000 | -5,234,000 | -5,063,000 | -2,832,000 | -52,000 | 12,000 | -97,000 | -93,000 | -87,000 | -45,000 | -31,000 | -79,000 | -32,000 | -63,000 | -138,000 |
total other income | 11,902,000 | 19,157,000 | 17,611,000 | 23,793,000 | 20,279,000 | 21,253,000 | 30,953,000 | 15,104,000 | 13,567,000 | 12,935,000 | 8,748,000 | 592,000 | 2,550,000 | -1,990,000 | 3,257,000 | -3,066,500 | 2,309,000 | -3,633,000 | 123,000 | 206,000 | -238,000 | -94,000 | -241,000 | 345,000 | -86,000 | -33,000 | 606,000 | 164,000 | 164,000 | ||||||||||||||||
income before income tax expense | 23,136,000 | -5,457,000 | -9,869,000 | 12,992,000 | 10,648,000 | -2,682,000 | 7,720,000 | ||||||||||||||||||||||||||||||||||||||
income tax expense | -6,600,000 | -11,924,000 | -11,753,000 | -1,786,000 | -13,382,000 | -2,263,000 | -2,744,000 | -1,748,000 | -2,121,000 | -1,380,000 | -1,117,000 | -1,660,000 | -1,613,000 | -926,000 | -1,011,000 | -666,000 | -418,750 | -251,000 | -711,000 | -713,000 | -491,000 | ||||||||||||||||||||||||
net income | 16,536,000 | -3,258,000 | -21,793,000 | 4,983,000 | 8,146,000 | -14,435,000 | 5,934,000 | -13,604,000 | -5,463,000 | -118,946,000 | -38,282,000 | -15,636,000 | -31,411,000 | -56,361,000 | -9,341,000 | -16,371,000 | -13,735,000 | -24,572,000 | -23,159,000 | -15,416,000 | -22,498,000 | -29,401,000 | -17,716,000 | -10,302,000 | -14,987,000 | -17,357,000 | -11,100,000 | -11,492,000 | -18,663,000 | -18,225,000 | -15,448,000 | -11,535,000 | -10,583,000 | -9,521,000 | -8,075,000 | -13,829,000 | -10,515,000 | -11,064,000 | -10,154,000 | -10,251,000 | -13,552,000 | -11,392,000 | -10,858,000 | -19,696,000 | -10,793,000 |
yoy | 103.00% | -77.43% | -467.26% | -136.63% | -249.11% | -87.86% | -115.50% | -13.00% | -82.61% | 111.04% | 309.83% | -4.49% | 128.69% | 129.37% | -59.67% | 6.19% | -38.95% | -16.42% | 30.72% | 49.64% | 50.12% | 69.39% | 59.60% | -10.36% | -19.70% | -4.76% | -28.15% | -0.37% | 76.35% | 91.42% | 91.31% | -16.59% | 0.65% | -13.95% | -20.47% | 34.90% | -22.41% | -2.88% | -6.48% | -47.95% | 25.56% | ||||
qoq | -607.55% | -85.05% | -537.35% | -38.83% | -156.43% | -343.26% | -143.62% | 149.02% | -95.41% | 210.71% | 144.83% | -50.22% | -44.27% | 503.37% | -42.94% | 19.19% | -44.10% | 6.10% | 50.23% | -31.48% | -23.48% | 65.96% | 71.97% | -31.26% | -13.65% | 56.37% | -3.41% | -38.42% | 2.40% | 17.98% | 33.92% | 9.00% | 11.15% | 17.91% | -41.61% | 31.52% | -4.96% | 8.96% | -0.95% | -24.36% | 18.96% | 4.92% | -44.87% | 82.49% | |
net income margin % | 2.04% | -0.43% | -3.05% | 0.71% | 1.22% | -2.27% | 0.96% | -2.34% | -0.98% | -22.48% | -7.63% | -3.33% | -7.08% | -13.36% | -2.36% | -4.43% | -4.05% | -7.91% | -8.23% | -6.12% | -9.85% | -14.44% | -8.90% | -5.53% | -8.63% | -10.63% | -7.31% | -7.98% | -14.16% | -14.87% | -13.49% | -10.83% | -10.83% | -10.69% | -9.82% | -18.09% | -14.90% | -17.03% | -17.22% | -19.30% | -28.40% | -26.53% | -28.45% | -57.66% | -35.45% |
net income per share | 0.31 | -0.06 | -0.42 | 0.1 | 0.16 | -0.28 | 0.12 | -0.818 | -0.11 | -2.39 | -0.78 | -0.508 | -0.65 | -1.18 | -0.2 | -0.328 | -0.29 | -0.53 | -0.5 | -0.393 | -0.49 | -0.67 | -0.41 | -0.26 | -0.35 | -0.41 | -0.27 | -0.343 | -0.48 | -0.48 | -0.41 | -0.193 | -0.29 | -0.26 | -0.22 | -0.228 | -0.3 | -0.32 | -0.29 | ||||||
net income income per share, diluted | 0.31 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic net income income per share: | 52,507 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing diluted net income per share | 52,671 | ||||||||||||||||||||||||||||||||||||||||||||
income tax benefit | 2,199,000 | -4,010,000 | -2,502,000 | -3,558,250 | 1,412,000 | -1,444,000 | 137,000 | -606,000 | -359,000 | -412,000 | 1,914,000 | 5,358,000 | 3,251,000 | 60,000 | |||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic and diluted net loss per share | 52,696 | 36,654 | |||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic net (loss) income per share: | 52,154 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing diluted net (loss) income per share: | 52,154 | ||||||||||||||||||||||||||||||||||||||||||||
other income: | |||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic net income per share: | 51,178 | 51,354 | 50,689 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing diluted net income per share: | 51,819 | 51,778 | 51,498 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic and diluted net loss per share: | 51,005 | 50,051 | 49,703 | 49,395 | 48,067 | 47,815 | 47,577 | 47,044 | 46,777 | 46,428 | 45,627 | 44,130 | 43,275 | 42,531 | 42,127 | 40,568 | 38,762 | 38,350 | 37,832 | 37,047 | 36,205 | 35,393 | 35,023 | 34,692 | |||||||||||||||||||||
other expense: | |||||||||||||||||||||||||||||||||||||||||||||
other expense | -532,000 | -1,664,000 | 441,000 | -7,000 | -91,000 | -1,052,000 | 380,000 | -89,000 | -672,000 | -12,000 | -405,000 | -277,000 | -527,000 | -283,000 | -62,750 | -26,000 | -97,000 | -128,000 | |||||||||||||||||||||||||||
loss before income tax expense | -9,244,000 | -6,875,000 | -105,564,000 | -36,019,000 | -12,892,000 | -29,663,000 | -54,240,000 | -7,897,000 | -14,991,000 | -12,618,000 | -22,912,000 | -23,296,000 | -13,803,000 | -21,572,000 | -28,390,000 | -17,050,000 | -10,442,250 | -14,736,000 | -16,646,000 | -10,387,000 | -14,957,000 | ||||||||||||||||||||||||
total other expense | -6,310,000 | -8,264,000 | -6,162,000 | -6,111,000 | -14,765,000 | -2,948,000 | -846,000 | -664,000 | -921,000 | -1,351,000 | -3,054,000 | -3,254,000 | -3,761,000 | -1,471,750 | -3,815,000 | -2,195,000 | |||||||||||||||||||||||||||||
loss before income tax benefit | -10,886,000 | -18,304,000 | -17,813,000 | -13,449,000 | -15,941,000 | -12,772,000 | -11,124,000 | ||||||||||||||||||||||||||||||||||||||
loss before income tax provision | -7,877,000 | -7,853,750 | -10,189,000 | -10,102,000 | |||||||||||||||||||||||||||||||||||||||||
income tax provision | -198,000 | -79,500 | -326,000 | -52,000 | |||||||||||||||||||||||||||||||||||||||||
income before provision for income taxes | -8,884,250 | -13,376,000 | -11,355,000 | -10,806,000 | |||||||||||||||||||||||||||||||||||||||||
provision for income taxes | -66,250 | -176,000 | -37,000 | -52,000 | |||||||||||||||||||||||||||||||||||||||||
preferred stock accretion | 291,000 | 13,000 | |||||||||||||||||||||||||||||||||||||||||||
net loss attributable to common stockholders | -10,251,000 | -13,552,000 | -11,392,000 | -10,858,000 | -19,987,000 | -10,806,000 | |||||||||||||||||||||||||||||||||||||||
net loss attributable to common stockholders per share, basic and diluted | -0.273 | -0.4 | -0.34 | -0.34 | -1.25 | -1.84 | |||||||||||||||||||||||||||||||||||||||
weighted-average common shares used in computing basic and diluted net loss attributable to common stockholders per share: | 33,819 | 33,208 | 31,636 | 5,874 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 614,352,000 | 601,196,000 | 625,029,000 | 512,667,000 | 410,060,000 | 797,875,000 | 447,793,000 | 387,987,000 | 535,545,000 | 457,218,000 | 325,159,000 | 331,022,000 | 331,659,000 | 305,664,000 | 408,433,000 | 377,013,000 | 288,334,000 | 338,336,000 | 397,498,000 | 378,123,000 | 124,895,000 | 201,086,000 | 229,133,000 | 269,670,000 | 225,770,000 | 238,080,000 | 285,126,000 | 111,489,000 | 96,122,000 | 98,426,000 | 154,031,000 | 87,680,000 | 176,743,000 | 175,622,000 | 69,786,000 | 59,702,000 | 61,439,000 | 58,661,000 | 53,019,000 | 55,580,000 | 58,809,000 | 74,235,000 | 129,375,000 | 123,721,000 | |
short-term investments | 871,547,000 | 1,068,335,000 | 1,417,785,000 | 1,556,828,000 | 1,527,928,000 | 937,830,000 | 1,070,872,000 | 1,000,245,000 | 1,061,526,000 | 1,071,927,000 | 1,159,554,000 | 1,081,662,000 | 952,697,000 | 940,379,000 | 826,449,000 | 820,962,000 | 882,340,000 | 875,395,000 | 782,335,000 | 873,073,000 | 1,059,615,000 | 934,992,000 | 739,428,000 | 691,834,000 | 722,767,000 | 717,115,000 | 683,994,000 | 480,761,000 | 465,166,000 | 451,830,000 | 375,379,000 | 416,663,000 | 315,130,000 | 316,798,000 | 53,001,000 | 54,648,000 | 52,555,000 | 58,831,000 | 54,633,000 | 48,972,000 | 45,697,000 | 35,591,000 | 6,717,000 | ||
accounts receivable | 314,510,000 | 321,129,000 | 294,509,000 | 334,829,000 | 278,893,000 | 269,908,000 | 266,862,000 | 295,303,000 | 212,409,000 | 206,697,000 | 197,516,000 | 226,849,000 | 166,667,000 | 165,950,000 | 152,729,000 | 157,362,000 | 126,673,000 | 117,030,000 | 109,602,000 | 126,433,000 | 94,122,000 | 86,184,000 | 81,055,000 | 92,517,000 | 77,551,000 | 72,999,000 | 69,249,000 | 77,100,000 | 63,107,000 | 53,496,000 | 54,208,000 | 60,676,000 | 48,790,000 | 38,466,000 | 34,935,000 | 38,984,000 | 30,436,000 | 25,643,000 | 25,072,000 | 25,142,000 | 19,769,000 | 16,217,000 | 15,458,000 | 14,270,000 | 10,504,000 |
deferred commission expense | 203,848,000 | 189,288,000 | 167,962,000 | 148,693,000 | 135,116,000 | 119,558,000 | 107,424,000 | 99,326,000 | 86,913,000 | 82,158,000 | 76,365,000 | 70,992,000 | 65,010,000 | 63,526,000 | 63,210,000 | 59,849,000 | 57,475,000 | 52,941,000 | 47,279,000 | 44,576,000 | 39,666,000 | 36,121,000 | 33,214,000 | 32,078,000 | 29,080,000 | 28,672,000 | 26,370,000 | 23,664,000 | 18,759,000 | 15,220,000 | 12,721,000 | 13,343,000 | 11,228,000 | 11,149,000 | 9,550,000 | 9,025,000 | 8,205,000 | 8,128,000 | 8,453,000 | 8,114,000 | 6,644,000 | 6,009,000 | 5,991,000 | 5,995,000 | 4,837,000 |
prepaid expenses and other current assets | 110,076,000 | 129,560,000 | 108,588,000 | 80,586,000 | 86,704,000 | 111,033,000 | 92,301,000 | 88,679,000 | 78,542,000 | 89,845,000 | 63,480,000 | 44,074,000 | 45,060,000 | 56,260,000 | 40,260,000 | 38,388,000 | 56,242,000 | 42,626,000 | 31,459,000 | 34,716,000 | 40,516,000 | 37,936,000 | 29,923,000 | 17,809,000 | 20,052,000 | 19,991,000 | 13,143,000 | 14,229,000 | 18,132,000 | 21,305,000 | 15,588,000 | 14,418,000 | 17,726,000 | 20,224,000 | 10,263,000 | 8,433,000 | 10,187,000 | 9,206,000 | 8,030,000 | 4,899,000 | 4,598,000 | 6,570,000 | 4,555,000 | 3,516,000 | 3,370,000 |
total current assets | 2,114,333,000 | 2,309,508,000 | 2,613,873,000 | 2,633,603,000 | 2,438,701,000 | 2,236,204,000 | 1,985,252,000 | 1,871,540,000 | 1,974,935,000 | 1,907,845,000 | 1,822,074,000 | 1,754,599,000 | 1,561,093,000 | 1,531,779,000 | 1,491,081,000 | 1,453,574,000 | 1,411,064,000 | 1,426,328,000 | 1,368,173,000 | 1,456,921,000 | 1,358,814,000 | 1,296,319,000 | 1,112,753,000 | 1,109,724,000 | 1,081,239,000 | 1,082,876,000 | 1,083,451,000 | 712,418,000 | 666,461,000 | 647,020,000 | 619,543,000 | 602,501,000 | 571,028,000 | 563,780,000 | 179,769,000 | 176,253,000 | 164,062,000 | 161,693,000 | 151,738,000 | 145,754,000 | 137,323,000 | 140,760,000 | 164,176,000 | 149,509,000 | 32,008,000 |
long-term investments | 172,214,000 | 191,251,000 | 176,557,000 | 154,212,000 | 165,623,000 | 209,992,000 | 311,526,000 | 325,703,000 | 150,861,000 | 146,245,000 | 121,814,000 | 112,791,000 | 152,725,000 | 162,660,000 | 195,045,000 | 174,895,000 | 114,738,000 | 83,762,000 | 105,990,000 | 30,697,000 | 43,550,000 | 61,095,000 | 66,184,000 | 53,776,000 | 59,783,000 | 38,628,000 | 14,548,000 | 11,450,000 | 13,234,000 | 16,375,000 | 28,100,000 | 31,394,000 | 35,669,000 | 41,895,000 | 37,846,000 | 35,718,000 | 37,669,000 | 30,507,000 | 35,113,000 | 40,566,000 | 43,498,000 | 42,342,000 | 19,038,000 | ||
property and equipment | 137,391,000 | 132,346,000 | 123,815,000 | 114,165,000 | 110,950,000 | 105,886,000 | 103,362,000 | 103,331,000 | 104,949,000 | 104,227,000 | 107,060,000 | 105,227,000 | 102,628,000 | 102,556,000 | 102,751,000 | 96,134,000 | 94,727,000 | 97,885,000 | 96,845,000 | 101,123,000 | 95,352,000 | 89,993,000 | 85,653,000 | 83,649,000 | 63,959,000 | 58,471,000 | 54,995,000 | 52,468,000 | 51,913,000 | 49,311,000 | 47,734,000 | 43,294,000 | 40,601,000 | 37,618,000 | 34,697,000 | 30,201,000 | 29,041,000 | 28,034,000 | 26,897,000 | 18,161,000 | 11,840,000 | 11,337,000 | 11,561,000 | 11,381,000 | 9,874,000 |
capitalized software development costs | 206,659,000 | 191,077,000 | 169,517,000 | 154,484,000 | 144,829,000 | 132,026,000 | 119,554,000 | 106,229,000 | 96,569,000 | 86,548,000 | 73,068,000 | 63,790,000 | 56,803,000 | 50,228,000 | 44,020,000 | 39,858,000 | 37,982,000 | 33,513,000 | 28,340,000 | 24,943,000 | 22,839,000 | 21,391,000 | 18,826,000 | 16,793,000 | 15,095,000 | 13,616,000 | 13,365,000 | 12,746,000 | 12,539,000 | 11,477,000 | 9,885,000 | 8,760,000 | 8,566,000 | 7,774,000 | 7,072,000 | 6,523,000 | 5,840,000 | 4,990,000 | 5,086,000 | 4,655,000 | 4,468,000 | 4,233,000 | 4,225,000 | 4,433,000 | 4,805,000 |
right-of-use assets | 207,225,000 | 213,661,000 | 215,990,000 | 216,230,000 | 225,922,000 | 228,406,000 | 243,279,000 | 251,071,000 | 254,483,000 | 262,759,000 | 310,000,000 | 319,304,000 | 251,422,000 | 263,602,000 | 276,548,000 | 280,828,000 | 285,273,000 | 257,323,000 | 261,601,000 | 275,893,000 | 278,825,000 | 270,462,000 | 230,565,000 | 234,390,000 | 215,797,000 | 224,980,000 | 159,096,000 | ||||||||||||||||||
deferred commission expense, net of current portion | 196,300,000 | 187,790,000 | 174,270,000 | 160,814,000 | 149,619,000 | 138,636,000 | 128,580,000 | 122,194,000 | 103,488,000 | 93,277,000 | 80,476,000 | 66,559,000 | 53,240,000 | 49,287,000 | 47,181,000 | 42,681,000 | 37,642,000 | 35,211,000 | 30,607,000 | 28,296,000 | 23,712,000 | 20,831,000 | 18,792,000 | 19,110,000 | 17,608,000 | 18,600,000 | 18,535,000 | 18,114,000 | 15,176,000 | 13,293,000 | 11,228,000 | ||||||||||||||
other assets | 156,530,000 | 143,576,000 | 126,200,000 | 115,254,000 | 112,045,000 | 93,866,000 | 88,058,000 | 75,247,000 | 70,931,000 | 65,876,000 | 66,145,000 | 58,795,000 | 56,402,000 | 49,197,000 | 39,918,000 | 29,244,000 | 25,570,000 | 25,157,000 | 18,795,000 | 13,893,000 | 11,719,000 | 10,875,000 | 12,883,000 | 9,824,000 | 7,894,000 | 8,052,000 | 7,066,000 | 6,888,000 | 5,656,000 | 6,183,000 | 5,273,000 | 4,617,000 | 4,044,000 | 1,579,000 | 1,184,000 | 950,000 | 985,000 | 1,111,000 | 928,000 | 1,007,000 | 462,000 | 259,000 | 120,000 | 116,000 | 2,579,000 |
intangible assets | 36,918,000 | 40,039,000 | 41,054,000 | 37,563,000 | 35,211,000 | 37,421,000 | 39,825,000 | 42,316,000 | 13,382,000 | 15,854,000 | 16,702,000 | 17,446,000 | 17,592,000 | 18,767,000 | 9,988,000 | 10,565,000 | 11,075,000 | 11,644,000 | 11,878,000 | 10,282,000 | 10,013,000 | 10,075,000 | 10,898,000 | 11,752,000 | 2,556,000 | 3,319,000 | 4,119,000 | 4,919,000 | 5,719,000 | 6,212,000 | 6,262,000 | 6,312,000 | 6,362,000 | 16,000 | 36,000 | 56,000 | 76,000 | 100,000 | 126,000 | 153,000 | 179,000 | 89,000 | 102,000 | ||
goodwill | 274,788,000 | 274,716,000 | 255,040,000 | 209,508,000 | 174,158,000 | 173,565,000 | 173,667,000 | 173,761,000 | 46,050,000 | 46,464,000 | 46,454,000 | 46,227,000 | 45,014,000 | 45,883,000 | 46,770,000 | 47,075,000 | 47,404,000 | 47,789,000 | 47,588,000 | 31,318,000 | 30,597,000 | 29,935,000 | 29,956,000 | 30,250,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 14,950,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,773,000 | 9,330,000 | 9,330,000 |
total assets | 3,502,358,000 | 3,683,964,000 | 3,896,316,000 | 3,795,833,000 | 3,557,058,000 | 3,356,002,000 | 3,193,103,000 | 3,071,392,000 | 2,815,648,000 | 2,729,095,000 | 2,643,793,000 | 2,544,738,000 | 2,296,919,000 | 2,273,959,000 | 2,253,302,000 | 2,174,854,000 | 2,065,475,000 | 2,018,612,000 | 1,969,817,000 | 1,973,366,000 | 1,875,421,000 | 1,810,976,000 | 1,586,510,000 | 1,569,268,000 | 1,478,881,000 | 1,463,492,000 | 1,370,125,000 | 833,953,000 | 785,648,000 | 764,821,000 | 742,975,000 | 712,175,000 | 686,326,000 | 667,519,000 | 275,281,000 | 259,755,000 | 247,786,000 | 236,534,000 | 229,992,000 | 220,379,000 | 207,837,000 | 208,857,000 | 209,072,000 | 174,858,000 | 58,938,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 24,873,000 | 12,528,000 | 22,234,000 | 3,649,000 | 5,267,000 | 4,115,000 | 7,928,000 | 9,106,000 | 16,808,000 | 3,133,000 | 2,958,000 | 20,883,000 | 13,318,000 | 11,822,000 | 8,321,000 | 2,773,000 | 1,944,000 | 12,178,000 | 17,907,000 | 13,540,000 | 14,116,000 | 10,814,000 | 10,671,000 | 12,842,000 | 14,882,000 | 13,264,000 | 14,859,000 | 7,810,000 | 8,817,000 | 5,716,000 | 5,194,000 | 4,657,000 | 4,749,000 | 2,865,000 | 3,257,000 | 4,350,000 | 3,004,000 | 2,707,000 | 2,674,000 | 2,588,000 | 2,577,000 | 2,415,000 | 1,544,000 | 2,800,000 | 2,187,000 |
accrued compensation costs | 106,503,000 | 96,583,000 | 86,354,000 | 67,442,000 | 83,602,000 | 61,206,000 | 68,752,000 | 53,462,000 | 79,450,000 | 69,758,000 | 70,605,000 | 62,846,000 | 63,373,000 | 55,757,000 | 60,595,000 | 63,836,000 | 64,319,000 | 51,986,000 | 44,856,000 | 44,054,000 | 40,079,000 | 26,513,000 | 23,809,000 | 26,318,000 | 23,913,000 | 20,179,000 | 21,360,000 | 23,589,000 | 19,182,000 | 14,931,000 | 14,680,000 | 16,329,000 | 11,611,000 | 12,668,000 | 8,717,000 | 11,415,000 | 10,284,000 | 11,442,000 | 8,920,000 | 11,371,000 | 8,421,000 | 8,182,000 | 6,440,000 | 7,660,000 | 4,837,000 |
accrued commissions | 109,625,000 | 98,872,000 | 97,064,000 | 102,043,000 | 88,418,000 | 78,657,000 | 67,355,000 | 78,169,000 | |||||||||||||||||||||||||||||||||||||
accrued expenses and other current liabilities | 154,178,000 | 152,879,000 | 129,571,000 | 125,135,000 | 99,358,000 | 95,078,000 | 85,852,000 | 108,313,000 | 134,908,000 | 157,485,000 | 131,492,000 | 102,122,000 | 90,827,000 | 96,263,000 | 84,825,000 | 74,457,000 | 64,691,000 | 44,744,000 | 40,868,000 | 37,184,000 | 31,891,000 | 28,211,000 | 29,450,000 | 28,686,000 | 25,706,000 | 28,546,000 | 25,284,000 | 22,305,000 | |||||||||||||||||
operating lease liabilities | 38,705,000 | 37,665,000 | 36,696,000 | 32,693,000 | 34,630,000 | 32,886,000 | 32,869,000 | 35,047,000 | 29,756,000 | 31,145,000 | 33,580,000 | 35,928,000 | 32,155,000 | 28,744,000 | 30,947,000 | 26,364,000 | 25,216,000 | 31,410,000 | 30,563,000 | 30,020,000 | 30,252,000 | 29,807,000 | 24,542,000 | 23,613,000 | |||||||||||||||||||||
convertible senior notes | 368,883,000 | 458,184,000 | 457,674,000 | 457,196,000 | 456,704,000 | 456,206,000 | 455,699,000 | 455,207,000 | 454,712,000 | 19,367,000 | 19,630,000 | 21,269,000 | 64,762,000 | 11,810,000 | 7,837,000 | 474,048,000 | 467,523,000 | 346,265,000 | 340,564,000 | 334,966,000 | 329,457,000 | 324,042,000 | 318,782,000 | 313,550,000 | 308,409,000 | 303,355,000 | 298,447,000 | 293,563,000 | 288,764,000 | ||||||||||||||||
deferred revenue | 882,099,000 | 888,297,000 | 836,296,000 | 784,253,000 | 719,595,000 | 708,113,000 | 696,878,000 | 672,150,000 | 578,280,000 | 585,934,000 | 571,793,000 | 539,874,000 | 468,536,000 | 469,576,000 | 457,916,000 | 430,414,000 | 372,381,000 | 358,830,000 | 336,183,000 | 312,866,000 | 256,034,000 | 238,101,000 | 238,913,000 | 231,030,000 | 200,771,000 | 195,509,000 | 191,193,000 | 183,305,000 | 160,509,000 | 151,906,000 | 148,500,000 | 136,880,000 | 118,366,000 | 109,919,000 | 104,432,000 | 95,426,000 | 83,328,000 | 76,507,000 | 73,262,000 | 64,407,000 | 54,390,000 | 49,712,000 | 46,534,000 | 40,805,000 | 34,134,000 |
total current liabilities | 1,315,983,000 | 1,286,824,000 | 1,577,098,000 | 1,573,399,000 | 1,488,544,000 | 1,437,251,000 | 959,634,000 | 956,247,000 | 839,202,000 | 847,455,000 | 810,428,000 | 761,653,000 | 668,209,000 | 662,162,000 | 661,971,000 | 617,474,000 | 549,820,000 | 563,910,000 | 482,187,000 | 445,501,000 | 372,372,000 | 333,446,000 | 327,385,000 | 322,489,000 | 280,918,000 | 272,913,000 | 268,624,000 | 237,009,000 | 211,289,000 | 198,245,000 | 192,370,000 | 178,296,000 | 160,636,000 | 153,743,000 | 135,632,000 | 127,383,000 | 114,970,000 | 106,970,000 | 100,672,000 | 91,307,000 | 78,080,000 | 73,714,000 | 65,297,000 | 59,428,000 | 49,932,000 |
operating lease liabilities, net of current portion | 233,232,000 | 242,867,000 | 249,570,000 | 254,539,000 | 265,706,000 | 273,137,000 | 284,489,000 | 296,561,000 | 301,661,000 | 313,632,000 | 309,037,000 | 316,184,000 | 250,678,000 | 264,234,000 | 278,056,000 | 283,873,000 | 289,536,000 | 259,696,000 | 265,664,000 | 279,664,000 | 283,373,000 | 275,210,000 | 239,655,000 | 244,216,000 | |||||||||||||||||||||
deferred revenue, net of current portion | 6,669,000 | 5,993,000 | 4,581,000 | 3,969,000 | 4,232,000 | 4,606,000 | 4,916,000 | 5,810,000 | 4,212,000 | 4,568,000 | 5,474,000 | 5,904,000 | 5,188,000 | 4,511,000 | 4,700,000 | 4,473,000 | 3,498,000 | 3,403,000 | 3,227,000 | 3,636,000 | 3,082,000 | 2,914,000 | 3,334,000 | 3,058,000 | 2,835,000 | 2,619,000 | 2,263,000 | 2,179,000 | 2,132,000 | 1,891,000 | 2,284,000 | 2,277,000 | 1,792,000 | 1,394,000 | 1,139,000 | 1,171,000 | 918,000 | 675,000 | 692,000 | 732,000 | 608,000 | 534,000 | 462,000 | 500,000 | 538,000 |
other long-term liabilities | 90,632,000 | 83,224,000 | 60,523,000 | 55,640,000 | 46,694,000 | 40,109,000 | 38,243,000 | 36,459,000 | 28,535,000 | 25,768,000 | 17,763,000 | 14,546,000 | 12,424,000 | 18,353,000 | 21,992,000 | 12,134,000 | 11,833,000 | 12,056,000 | 11,399,000 | 10,811,000 | 9,682,000 | 8,832,000 | 8,898,000 | 8,983,000 | 6,182,000 | 5,635,000 | 4,993,000 | 4,897,000 | 4,715,000 | 4,418,000 | 4,222,000 | 3,927,000 | 3,626,000 | 1,944,000 | 1,625,000 | 1,556,000 | 644,000 | 14,000 | 13,000 | ||||||
total liabilities | 1,646,516,000 | 1,618,908,000 | 1,891,772,000 | 1,887,547,000 | 1,805,176,000 | 1,755,103,000 | 1,743,986,000 | 1,751,283,000 | 1,629,309,000 | 1,646,630,000 | 1,597,414,000 | 1,552,514,000 | 1,390,222,000 | 1,402,492,000 | 1,419,466,000 | 1,301,055,000 | 1,233,482,000 | 1,212,928,000 | 1,195,103,000 | 1,210,711,000 | 1,142,557,000 | 1,087,925,000 | 925,537,000 | 919,310,000 | 850,529,000 | 845,348,000 | 771,122,000 | 589,312,000 | 556,235,000 | 537,182,000 | 521,877,000 | 501,815,000 | 477,790,000 | 463,816,000 | 150,938,000 | 141,055,000 | 125,628,000 | 116,082,000 | 109,040,000 | 98,671,000 | 83,663,000 | 78,538,000 | 69,864,000 | 64,159,000 | 72,684,000 |
commitments and contingencies | |||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||
common stock | 52,000 | 53,000 | 52,000 | 52,000 | 51,000 | 51,000 | 51,000 | 50,000 | 50,000 | 50,000 | 49,000 | 49,000 | 48,000 | 48,000 | 48,000 | 47,000 | 47,000 | 47,000 | 47,000 | 46,000 | 46,000 | 46,000 | 44,000 | 44,000 | 43,000 | 43,000 | 43,000 | 40,000 | 40,000 | 39,000 | 39,000 | 38,000 | 36,000 | 36,000 | 36,000 | 36,000 | 35,000 | 35,000 | 35,000 | 34,000 | 34,000 | 33,000 | 32,000 | 32,000 | 6,000 |
treasury stock | 2,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||
additional paid-in capital | 2,658,305,000 | 2,884,434,000 | 2,828,754,000 | 2,713,697,000 | 2,550,974,000 | 2,418,608,000 | 2,250,549,000 | 2,136,908,000 | 2,000,739,000 | 1,890,409,000 | 1,734,749,000 | 1,647,446,000 | 1,550,905,000 | 1,477,770,000 | 1,378,457,000 | 1,436,089,000 | 1,375,982,000 | 1,334,301,000 | 1,279,113,000 | 1,241,167,000 | 1,198,332,000 | 1,167,791,000 | 1,077,605,000 | 1,048,380,000 | 1,017,046,000 | 990,701,000 | 955,045,000 | 589,708,000 | 563,034,000 | 542,543,000 | 516,934,000 | 496,461,000 | 482,964,000 | 467,897,000 | 379,459,000 | 365,444,000 | 354,743,000 | 342,435,000 | 331,730,000 | 322,833,000 | 314,787,000 | 307,295,000 | 304,715,000 | 265,113,000 | 19,627,000 |
accumulated other comprehensive income | 5,807,000 | 5,428,000 | -5,654,000 | 5,649,000 | -4,822,000 | 1,827,000 | -1,339,000 | 4,603,000 | 241,000 | 83,000 | |||||||||||||||||||||||||||||||||||
accumulated deficit | -808,324,000 | -824,860,000 | -821,602,000 | -799,809,000 | -804,792,000 | -812,938,000 | -798,503,000 | -818,676,000 | -805,072,000 | -799,609,000 | -680,663,000 | -642,381,000 | -626,745,000 | -595,334,000 | -538,973,000 | -560,998,000 | -544,627,000 | -530,892,000 | -506,320,000 | -483,161,000 | -467,745,000 | -445,247,000 | -415,846,000 | -398,130,000 | -387,828,000 | -372,841,000 | -355,484,000 | -344,384,000 | -332,892,000 | -314,229,000 | -295,737,000 | -286,082,000 | -274,547,000 | -263,964,000 | -254,444,000 | -245,916,000 | -232,087,000 | -221,572,000 | -210,508,000 | -200,354,000 | -190,103,000 | -176,551,000 | -165,159,000 | -154,301,000 | -134,605,000 |
total stockholders’ equity | 1,855,842,000 | 2,065,056,000 | 2,004,544,000 | 1,908,286,000 | 1,751,882,000 | 1,600,899,000 | 1,449,117,000 | 1,320,109,000 | 1,186,339,000 | 1,082,465,000 | 1,046,379,000 | 992,224,000 | 906,697,000 | 871,467,000 | 833,836,000 | 873,799,000 | 831,993,000 | 805,684,000 | 774,714,000 | 762,655,000 | 732,864,000 | 723,051,000 | 660,973,000 | 649,958,000 | 628,352,000 | 618,144,000 | 599,003,000 | 244,641,000 | 229,413,000 | 227,639,000 | 221,098,000 | 210,360,000 | 208,536,000 | 203,703,000 | 124,343,000 | 118,700,000 | 122,158,000 | 120,452,000 | 120,952,000 | 121,708,000 | 124,174,000 | 130,319,000 | 139,208,000 | 110,699,000 | |
total liabilities and stockholders’ equity | 3,502,358,000 | 3,683,964,000 | 3,896,316,000 | 3,795,833,000 | 3,557,058,000 | 3,356,002,000 | 3,193,103,000 | 3,071,392,000 | 2,815,648,000 | 2,729,095,000 | 2,643,793,000 | 2,544,738,000 | 2,296,919,000 | 2,273,959,000 | 2,253,302,000 | 2,174,854,000 | 2,065,475,000 | 2,018,612,000 | 1,969,817,000 | 1,973,366,000 | 1,875,421,000 | 1,810,976,000 | 1,586,510,000 | 1,569,268,000 | 1,478,881,000 | 1,463,492,000 | 1,370,125,000 | 833,953,000 | 785,648,000 | 764,821,000 | 742,975,000 | 712,175,000 | 686,326,000 | 667,519,000 | 275,281,000 | 259,755,000 | 247,786,000 | 236,534,000 | 229,992,000 | 220,379,000 | 207,837,000 | 208,857,000 | 209,072,000 | ||
accumulated other comprehensive loss | -2,660,000 | -2,980,000 | -9,378,000 | -8,385,000 | -7,756,000 | -12,890,000 | -17,511,000 | -11,017,000 | -5,696,000 | 591,000 | 2,228,000 | 1,874,000 | 2,231,000 | 461,000 | -830,000 | -336,000 | -909,000 | -601,000 | -723,000 | -769,000 | -714,000 | -138,000 | -57,000 | -266,000 | -708,000 | -864,000 | -533,000 | -446,000 | -305,000 | -805,000 | -544,000 | -458,000 | -380,000 | -145,000 | -106,000 | ||||||||||
convertible senior notes, net of current portion | 454,227,000 | 453,723,000 | 453,232,000 | 452,747,000 | 383,101,000 | 471,099,000 | |||||||||||||||||||||||||||||||||||||||
restricted cash | 5,816,000 | 6,019,000 | 6,019,000 | 5,569,000 | 5,175,000 | 5,175,000 | 5,175,000 | 5,968,000 | 4,757,000 | 5,106,000 | 5,100,000 | 4,940,000 | 162,000 | 380,000 | 370,000 | 381,000 | 213,000 | 210,000 | 205,000 | 230,000 | |||||||||||||||||||||||||
deferred rent, net of current portion | 26,445,000 | 24,549,000 | 24,219,000 | 19,646,000 | 18,868,000 | 18,173,000 | 16,780,000 | 11,643,000 | 10,079,000 | 8,849,000 | 8,164,000 | 7,378,000 | 6,345,000 | 4,759,000 | 4,149,000 | 4,052,000 | 4,153,000 | 4,110,000 | |||||||||||||||||||||||||||
lease liabilities | 15,646,000 | 15,415,000 | 15,928,000 | ||||||||||||||||||||||||||||||||||||||||||
lease liabilities, net of current portion | 225,628,000 | 234,724,000 | 171,200,000 | ||||||||||||||||||||||||||||||||||||||||||
other accrued expenses | 22,781,000 | 25,692,000 | 23,996,000 | 20,430,000 | 25,753,000 | 27,354,000 | 18,187,000 | 15,237,000 | 17,383,000 | 15,406,000 | 14,993,000 | 12,313,000 | 12,208,000 | 12,608,000 | 10,313,000 | 7,953,000 | 8,609,000 | ||||||||||||||||||||||||||||
prepaid hosting costs | 1,568,000 | 1,648,000 | 4,964,000 | 1,411,000 | 1,521,000 | 2,234,000 | 5,299,000 | 1,240,000 | 1,224,000 | 2,531,000 | 3,047,000 | 1,593,000 | 1,928,000 | 1,875,000 | 1,777,000 | 918,000 | |||||||||||||||||||||||||||||
deferred rent | 157,000 | 157,000 | 249,000 | 159,000 | 207,000 | 194,000 | 174,000 | 86,000 | 87,000 | 562,000 | 365,000 | 110,000 | 67,000 | ||||||||||||||||||||||||||||||||
capital lease obligations | 780,000 | 790,000 | 796,000 | 764,000 | 714,000 | 649,000 | 542,000 | 397,000 | 235,000 | 101,000 | 100,000 | 98,000 | |||||||||||||||||||||||||||||||||
capital lease obligations, net of current portion | 319,000 | 288,000 | 275,000 | 247,000 | 259,000 | 285,000 | 277,000 | 216,000 | 141,000 | 53,000 | 78,000 | 104,000 | |||||||||||||||||||||||||||||||||
asset retirement obligations | 872,000 | 611,000 | 591,000 | ||||||||||||||||||||||||||||||||||||||||||
other long term liabilities | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||
redeemable convertible preferred stock | 101,332,000 | ||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 174,858,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash | 12,379,000 | ||||||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ deficit | |||||||||||||||||||||||||||||||||||||||||||||
revolving line of credit | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ deficit | -115,078,000 | ||||||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ deficit | 58,938,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
net loss | 16,536,000 | 8,146,000 | -13,604,000 | -5,463,000 | -118,946,000 | -38,282,000 | -15,636,000 | -31,411,000 | -56,361,000 | -9,341,000 | -16,371,000 | -13,735,000 | -24,572,000 | -23,159,000 | -15,416,000 | -22,498,000 | -29,401,000 | -17,716,000 | -10,302,000 | -14,987,000 | -17,357,000 | -11,100,000 | -11,492,000 | -18,663,000 | -18,225,000 | -15,448,000 | -11,535,000 | -10,583,000 | -9,521,000 | -8,075,000 | -13,829,000 | -10,515,000 | -11,064,000 | -10,154,000 | -10,251,000 | -13,552,000 | -11,392,000 | -10,858,000 | -19,696,000 | |||||
adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions | ||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 35,702,000 | 33,194,000 | 28,830,000 | 28,381,000 | 25,009,000 | 22,204,000 | 21,234,000 | 19,165,000 | 20,509,000 | 16,429,000 | 16,570,000 | 15,525,000 | 15,562,000 | 14,265,000 | 12,798,000 | 11,971,000 | 11,452,000 | 10,528,000 | 11,208,000 | 9,993,000 | 9,384,000 | 8,972,000 | 8,711,000 | 7,545,000 | 7,213,000 | 7,062,000 | 6,973,000 | 6,889,000 | 6,000,000 | 5,429,000 | 5,110,000 | 4,663,000 | 4,146,000 | 3,648,000 | 3,329,000 | 3,185,000 | 2,769,000 | 3,022,000 | 2,201,000 | 1,832,000 | 1,946,000 | 1,818,000 | 1,747,000 | 890,000 |
stock-based compensation | 138,086,000 | 140,975,000 | 116,693,000 | 134,388,000 | 130,266,000 | 128,994,000 | 111,122,000 | 113,726,000 | 107,507,000 | 128,001,000 | 83,037,000 | 76,768,000 | 72,213,000 | 81,164,000 | 45,704,000 | 45,914,000 | 44,991,000 | 43,433,000 | 32,423,000 | 31,466,000 | 31,185,000 | 31,374,000 | 27,463,000 | 24,095,000 | 23,790,000 | 28,664,000 | 21,205,000 | 20,927,000 | 19,613,000 | 19,675,000 | 16,046,000 | 12,898,000 | 12,110,000 | 13,006,000 | 9,303,000 | 9,274,000 | 8,696,000 | 8,474,000 | 6,231,000 | 6,015,000 | 4,510,000 | 5,641,000 | 5,142,000 | 12,844,000 |
gain on strategic investments | -117,000 | -1,754,000 | -115,000 | -2,690,000 | -99,000 | -2,103,000 | -16,353,000 | -1,000 | 0 | 21,000 | -4,221,000 | -2,000 | -10,717,000 | |||||||||||||||||||||||||||||||
impairment of strategic investments | 2,075,000 | 0 | 1,600,000 | 1,212,000 | 0 | 479,000 | 3,615,000 | |||||||||||||||||||||||||||||||||||||
provision for deferred income taxes | -56,000 | 3,301,000 | -399,000 | -45,000 | -167,000 | 265,000 | 141,000 | -1,449,000 | 184,000 | -4,000 | -27,000 | 0 | -168,000 | 3,000 | 19,000 | 0 | 26,000 | |||||||||||||||||||||||||||
amortization of debt discount and issuance costs | 0 | 77,000 | 500,000 | 511,000 | 499,000 | 502,000 | 500,000 | 509,000 | 497,000 | 496,000 | 484,000 | 504,000 | 492,000 | 510,000 | 507,000 | 5,392,000 | 5,603,000 | 6,019,000 | 6,493,000 | 6,702,000 | 6,526,000 | 5,959,000 | 5,703,000 | 5,606,000 | 5,509,000 | 5,415,000 | 5,260,000 | 5,232,000 | 5,141,000 | 5,054,000 | 4,908,000 | 4,884,000 | 4,799,000 | |||||||||||
accretion of bond discount | -8,979,000 | -10,595,000 | -13,848,000 | -14,982,000 | -13,614,000 | -10,517,000 | -12,563,000 | -11,436,000 | 59,000 | -226,000 | -1,336,000 | -2,154,000 | -4,068,000 | -4,070,000 | -2,751,000 | -1,876,000 | ||||||||||||||||||||||||||||
unrealized currency translation | 942,000 | -5,494,000 | 2,717,000 | 1,827,000 | -2,429,000 | -1,486,000 | 538,000 | 1,039,000 | -1,258,000 | 236,000 | -358,000 | 530,000 | -1,500,000 | 1,277,000 | 703,000 | 701,000 | 323,000 | 329,000 | -49,000 | -831,000 | -305,000 | -597,000 | 781,000 | 37,000 | -175,000 | 263,000 | -281,000 | 268,000 | 79,000 | 100,000 | 36,000 | 209,000 | -153,000 | -149,000 | -46,000 | 227,000 | -83,000 | 189,000 | -252,000 | -90,000 | 50,000 | 159,000 | -448,000 | 25,000 |
changes in assets and liabilities | ||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | 5,780,000 | -15,625,000 | 45,655,000 | -62,289,000 | -4,561,000 | -7,001,000 | 25,423,000 | -70,796,000 | -8,448,000 | -8,989,000 | 30,615,000 | -53,850,000 | -5,786,000 | -17,901,000 | 3,552,000 | -31,858,000 | -11,193,000 | -7,531,000 | 16,475,000 | -29,591,000 | -6,310,000 | -3,850,000 | 9,780,000 | -14,082,000 | -5,253,000 | -3,851,000 | 7,758,000 | -14,460,000 | -9,911,000 | -218,000 | 6,863,000 | -11,670,000 | -9,671,000 | -3,015,000 | 4,176,000 | -8,959,000 | -4,755,000 | -732,000 | 347,000 | -4,616,000 | -4,061,000 | -912,000 | -1,660,000 | -4,026,000 |
prepaid expenses and other assets | 12,871,000 | -23,688,000 | -26,392,000 | 4,191,000 | 18,622,000 | -21,755,000 | -5,473,000 | -11,025,000 | 11,422,000 | -27,028,000 | -20,417,000 | 2,876,000 | 13,048,000 | -17,984,000 | -3,927,000 | 6,072,000 | 545,000 | -10,409,000 | 2,715,000 | 5,570,000 | -2,176,000 | -5,313,000 | -15,107,000 | 2,921,000 | 113,000 | -7,216,000 | 886,000 | 3,057,000 | 5,535,000 | -6,592,000 | 1,880,000 | -225,000 | 2,555,000 | -8,979,000 | 1,061,000 | -2,740,000 | -762,000 | -221,000 | -2,403,000 | -2,096,000 | 2,075,000 | -2,201,000 | -1,151,000 | -859,000 |
deferred commission expense | -23,563,000 | -22,431,000 | -27,159,000 | -35,262,000 | -21,341,000 | -23,083,000 | -17,001,000 | -26,843,000 | -17,301,000 | -18,495,000 | -18,539,000 | -15,373,000 | -8,466,000 | -5,390,000 | -8,354,000 | -8,189,000 | -7,969,000 | -10,097,000 | -6,305,000 | -7,937,000 | -5,514,000 | -4,314,000 | -1,523,000 | -4,115,000 | -12,000 | -2,205,000 | -3,334,000 | -8,013,000 | -5,798,000 | -5,021,000 | -5,068,000 | -1,993,000 | -110,000 | -1,437,000 | -464,000 | -373,000 | -77,000 | 296,000 | -299,000 | -1,470,000 | -635,000 | -18,000 | 4,000 | -1,158,000 |
right-of-use assets | 6,493,000 | 6,391,000 | 6,437,000 | 5,836,000 | 6,077,000 | 13,994,000 | 6,390,000 | 5,929,000 | 2,272,000 | 12,489,000 | 8,483,000 | 9,909,000 | 6,175,000 | 6,919,000 | 6,528,000 | 4,470,000 | 8,401,000 | 8,193,000 | 10,354,000 | 8,824,000 | 9,184,000 | 7,675,000 | 5,723,000 | 8,347,000 | 5,048,000 | 3,757,000 | 5,505,000 | |||||||||||||||||
accounts payable | 11,010,000 | -8,913,000 | 18,034,000 | -6,026,000 | 1,667,000 | 1,082,000 | -1,300,000 | -8,866,000 | 12,649,000 | 59,000 | -17,873,000 | 7,617,000 | 1,700,000 | 5,335,000 | 3,625,000 | 1,343,000 | -10,682,000 | -5,867,000 | 4,598,000 | 627,000 | 1,233,000 | 342,000 | 1,495,000 | -2,268,000 | 1,203,000 | 81,000 | 4,911,000 | -964,000 | 3,508,000 | 588,000 | 166,000 | -456,000 | 1,883,000 | 923,000 | -1,250,000 | 250,000 | 431,000 | 1,106,000 | -804,000 | -424,000 | 226,000 | 800,000 | -1,110,000 | 614,000 |
accrued expenses and other liabilities | 1,741,000 | 61,100,000 | -1,224,000 | 24,273,000 | 28,330,000 | -13,281,000 | -10,365,000 | 31,011,000 | 24,221,000 | -6,634,000 | 15,954,000 | 7,135,000 | 22,651,000 | 17,962,000 | -2,429,000 | 13,336,000 | 5,883,000 | -5,439,000 | -2,333,000 | 5,359,000 | -2,071,000 | |||||||||||||||||||||||
operating lease liabilities | -8,645,000 | -10,204,000 | -7,452,000 | -8,966,000 | -9,402,000 | -10,410,000 | -12,743,000 | -7,956,000 | -10,948,000 | -8,156,000 | -9,829,000 | -6,529,000 | -3,259,000 | -9,012,000 | -2,318,000 | -3,056,000 | -8,048,000 | -9,102,000 | -9,272,000 | -10,105,000 | -9,202,000 | -7,033,000 | -5,281,000 | |||||||||||||||||||||
deferred revenue | -2,521,000 | 24,466,000 | 39,422,000 | 89,919,000 | -3,172,000 | 13,078,000 | 31,213,000 | 69,227,000 | -732,000 | 12,793,000 | 28,638,000 | 53,226,000 | 11,237,000 | 23,010,000 | 29,496,000 | 60,891,000 | 17,460,000 | 21,827,000 | 27,538,000 | 51,132,000 | 14,364,000 | -3,704,000 | 10,832,000 | 28,355,000 | 8,063,000 | 3,954,000 | 8,893,000 | 23,603,000 | 9,321,000 | 5,419,000 | 10,973,000 | 18,438,000 | 7,906,000 | 4,202,000 | 8,453,000 | 13,596,000 | 6,929,000 | 3,634,000 | 8,152,000 | 10,372,000 | 4,763,000 | 3,069,000 | 6,462,000 | 6,935,000 |
net cash and cash equivalents from operating activities | 187,355,000 | 164,362,000 | 161,570,000 | 194,141,000 | 159,542,000 | 117,828,000 | 127,088,000 | 104,312,000 | 89,046,000 | 76,543,000 | 81,070,000 | 89,965,000 | 60,063,000 | 40,920,000 | 82,226,000 | 95,184,000 | 42,653,000 | 38,191,000 | 62,700,000 | 60,925,000 | 38,667,000 | -33,690,000 | 23,011,000 | 47,891,000 | 19,669,000 | 13,697,000 | 37,716,000 | 33,111,000 | 11,517,000 | 13,501,000 | 26,722,000 | 13,994,000 | 7,801,000 | 8,727,000 | 19,092,000 | 2,273,000 | 5,272,000 | 8,643,000 | 3,178,000 | 2,640,000 | -3,826,000 | 1,578,000 | -815,000 | |
investing activities: | ||||||||||||||||||||||||||||||||||||||||||||
purchases of investments | -354,795,000 | -155,829,000 | -674,375,000 | -507,272,000 | -834,621,000 | -252,339,000 | -399,378,000 | -443,221,000 | -405,920,000 | -369,117,000 | -362,246,000 | -248,951,000 | -394,856,000 | -428,516,000 | -435,547,000 | -447,431,000 | -383,268,000 | -291,775,000 | -362,288,000 | -139,915,000 | -410,414,000 | -527,139,000 | -439,889,000 | -336,853,000 | -370,192,000 | -211,301,000 | -386,501,000 | -156,794,000 | -158,546,000 | -155,406,000 | -210,886,000 | -317,373,000 | -267,359,000 | -288,910,000 | -16,367,000 | -7,808,000 | -23,212,000 | -12,142,000 | -8,969,000 | -19,746,000 | -15,586,000 | -52,499,000 | -25,784,000 | |
maturities of investments | 580,428,000 | 502,450,000 | 803,059,000 | 503,046,000 | 305,960,000 | 496,805,000 | 352,790,000 | 347,750,000 | 424,950,000 | 441,867,000 | 287,967,000 | 167,200,000 | 391,928,000 | 220,159,000 | 405,219,000 | 446,722,000 | 344,174,000 | 219,684,000 | 376,918,000 | 338,961,000 | 303,268,000 | 327,127,000 | 382,875,000 | 347,229,000 | 158,925,000 | 183,460,000 | 150,300,000 | 92,300,000 | 256,250,000 | 276,000,000 | 21,200,000 | 15,860,000 | 22,045,000 | 12,468,000 | 8,875,000 | |||||||||
sale of investment | ||||||||||||||||||||||||||||||||||||||||||||
purchases of property and equipment | -10,345,000 | -16,025,000 | -13,345,000 | -12,726,000 | -11,131,000 | -8,200,000 | -5,882,000 | -8,687,000 | -10,842,000 | -10,879,000 | -3,310,000 | -6,042,000 | -13,112,000 | -8,332,000 | -9,940,000 | -11,327,000 | -6,653,000 | -6,779,000 | -3,967,000 | -9,521,000 | -7,856,000 | -8,799,000 | -11,098,000 | -19,175,000 | -9,141,000 | -7,791,000 | -4,265,000 | -5,617,000 | -5,378,000 | -5,071,000 | -6,239,000 | -5,187,000 | -4,017,000 | -5,237,000 | -5,835,000 | -2,439,000 | -2,081,000 | -4,628,000 | -6,641,000 | -6,245,000 | -999,000 | -158,000 | -1,025,000 | -1,374,000 |
purchases of strategic investments | -8,922,000 | -7,825,000 | -11,000,000 | -7,915,000 | -3,996,000 | -3,600,000 | -27,000 | -3,250,000 | 0 | -6,000,000 | -5,999,000 | -8,827,000 | -5,046,000 | -4,000,000 | -1,000,000 | -201,000 | -50,000 | 0 | -250,000 | -2,200,000 | ||||||||||||||||||||||||
purchases of intangible assets | -23,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||
capitalization of software development costs | -34,498,000 | -35,436,000 | -30,421,000 | -22,915,000 | -23,646,000 | -21,441,000 | -21,634,000 | -17,084,000 | -17,693,000 | -16,473,000 | -15,122,000 | -12,995,000 | -11,419,000 | -10,209,000 | -9,722,000 | -7,501,000 | -9,217,000 | -9,080,000 | -7,341,000 | -5,955,000 | -5,481,000 | -5,394,000 | -4,769,000 | -4,335,000 | -3,811,000 | -2,507,000 | -2,821,000 | -2,442,000 | -2,920,000 | -3,190,000 | -2,616,000 | -1,765,000 | -1,966,000 | -1,730,000 | -1,610,000 | -1,576,000 | -1,661,000 | -1,078,000 | -1,434,000 | -1,189,000 | -1,333,000 | -1,022,000 | -770,000 | -704,000 |
proceeds from net working capital settlement | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
business acquisitions, net of cash acquired | -1,638,000 | -18,477,000 | -51,356,000 | |||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents from investing activities | 170,207,000 | 268,602,000 | 22,562,000 | -85,508,000 | -74,131,000 | -266,448,000 | -15,005,000 | 45,398,000 | -98,711,000 | -108,537,000 | -35,108,000 | -120,977,000 | -55,036,000 | -9,804,000 | -58,964,000 | -93,094,000 | -17,646,000 | 183,070,000 | -121,483,000 | -204,273,000 | -72,881,000 | -6,925,000 | -36,116,000 | -63,026,000 | -210,127,000 | -19,528,000 | -16,594,000 | -71,367,000 | 36,259,000 | -104,424,000 | -8,955,000 | -275,435,000 | -12,383,000 | -4,499,000 | -4,909,000 | -5,380,000 | -8,169,000 | -7,940,000 | -14,306,000 | -53,679,000 | -28,179,000 | |||
financing activities: | ||||||||||||||||||||||||||||||||||||||||||||
employee taxes paid related to the net share settlement of stock-based awards | -4,364,000 | -4,742,000 | -9,070,000 | -4,172,000 | -4,293,000 | -4,696,000 | -8,788,000 | -3,143,000 | -3,469,000 | -2,904,000 | -1,198,000 | -1,572,000 | -2,190,000 | -3,410,000 | -4,354,000 | -5,711,000 | -4,815,000 | -3,949,000 | -2,964,000 | -2,787,000 | -2,437,000 | -1,259,000 | -941,000 | -1,480,000 | -2,032,000 | -1,651,000 | -1,084,000 | -2,100,000 | -1,888,000 | -1,701,000 | -2,344,000 | -1,265,000 | -1,057,000 | -944,000 | -1,153,000 | -548,000 | -478,000 | -384,000 | -958,000 | -390,000 | -365,000 | |||
payment for settlement of 2025 convertible notes | 0 | |||||||||||||||||||||||||||||||||||||||||||
proceeds related to the issuance of common stock under stock plans | 24,053,000 | 19,356,000 | 19,308,000 | 14,290,000 | 15,967,000 | 25,301,000 | 19,943,000 | 9,804,000 | 13,384,000 | 13,296,000 | 11,254,000 | 10,213,000 | 10,019,000 | 7,847,000 | 11,852,000 | 12,386,000 | 9,256,000 | 8,529,000 | 16,339,000 | 8,115,000 | 7,048,000 | 8,354,000 | 6,854,000 | 4,652,000 | 8,188,000 | 5,048,000 | 5,690,000 | 4,786,000 | 5,157,000 | 5,499,000 | 6,113,000 | 2,677,000 | 2,924,000 | 3,145,000 | 4,340,000 | 2,439,000 | 2,977,000 | 3,176,000 | 2,992,000 | 2,827,000 | 3,067,000 | |||
repurchases of common stock | -360,269,000 | |||||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents from financing activities | -340,580,000 | -479,633,000 | -80,330,000 | 10,061,000 | 11,674,000 | 20,605,000 | 11,155,000 | 6,648,000 | 9,915,000 | 10,392,000 | 10,056,000 | 8,607,000 | 7,829,000 | -14,887,000 | 5,879,000 | 5,834,000 | -30,574,000 | -4,927,000 | -21,802,000 | 4,763,000 | 4,120,000 | 207,694,000 | 5,883,000 | 2,804,000 | 6,112,000 | 3,199,000 | 347,227,000 | 2,534,000 | 3,094,000 | 3,593,000 | 3,557,000 | 1,145,000 | 1,586,000 | 371,128,000 | 2,947,000 | 1,676,000 | 2,290,000 | 2,615,000 | 1,892,000 | 2,338,000 | 2,634,000 | -3,089,000 | 35,056,000 | |
effect of exchange rate changes on cash, cash equivalents and restricted cash | -3,826,000 | 21,486,000 | 8,560,000 | 10,349,000 | -1,509,000 | -4,306,000 | -5,629,000 | -274,000 | 1,722,000 | |||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 13,156,000 | -25,183,000 | 112,362,000 | 102,607,000 | -387,815,000 | 350,082,000 | 59,806,000 | -146,658,000 | 78,327,000 | 132,059,000 | -5,863,000 | -102,769,000 | 31,420,000 | 88,679,000 | -50,002,000 | -59,162,000 | 19,375,000 | 253,228,000 | -76,191,000 | -28,599,000 | -45,801,000 | 45,221,000 | -12,308,000 | -45,544,000 | 174,032,000 | 15,367,000 | ||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 516,720,000 | 0 | 0 | 392,040,000 | 0 | 0 | 334,175,000 | 0 | 0 | 380,042,000 | 0 | 0 | 381,152,000 | 0 | 0 | 278,515,000 | 0 | 0 | 117,114,000 | 0 | 0 | 92,784,000 | ||||||||||||||||||||
cash, cash equivalents and restricted cash, end of period | 13,156,000 | -25,183,000 | 629,082,000 | -387,815,000 | 350,082,000 | 451,846,000 | 78,327,000 | 132,059,000 | 328,312,000 | 25,995,000 | -102,769,000 | 411,462,000 | -50,002,000 | -59,162,000 | 400,527,000 | -76,191,000 | -28,599,000 | 232,714,000 | -12,308,000 | -45,544,000 | 291,146,000 | -2,304,000 | -55,948,000 | 159,999,000 | ||||||||||||||||||||
supplemental cash flow disclosure: | ||||||||||||||||||||||||||||||||||||||||||||
cash paid for income taxes | 3,912,000 | 6,935,000 | 3,705,000 | 1,150,000 | 3,872,000 | 4,065,000 | 3,100,000 | 1,446,000 | 1,998,000 | 5,404,000 | 4,063,000 | 802,000 | 1,059,000 | 1,141,000 | 1,683,000 | 1,630,000 | 1,142,000 | 1,983,000 | 2,215,000 | -543,000 | 1,203,000 | 900,000 | 746,000 | 695,000 | 552,000 | 816,000 | 1,027,000 | 826,000 | 244,000 | 727,000 | 45,000 | 419,000 | 26,000 | 373,000 | 37,000 | |||||||||
cash paid for interest | 0 | 860,000 | 0 | 861,000 | 0 | 861,000 | 4,000 | 895,000 | 0 | 1,004,000 | 0 | 511,000 | 0 | 509,000 | 6,000 | 506,000 | 15,000 | 561,000 | 10,000 | -1,000 | 192,000 | 36,000 | ||||||||||||||||||||||
right-of-use assets obtained in exchange for operating lease liabilities | 34,000 | -1,957,000 | 3,199,000 | 0 | -1,000 | 504,000 | -6,000 | 463,000 | 919,000 | 3,754,000 | 85,924,000 | 2,491,000 | 1,276,000 | 13,271,000 | 45,346,000 | 6,396,000 | ||||||||||||||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||||||||||||||||||||||||||||||
capital expenditures incurred but not yet paid | 2,212,000 | -2,244,000 | 2,799,000 | 910,000 | -1,215,000 | 271,000 | 1,737,000 | -6,189,000 | -2,371,000 | 3,709,000 | 5,919,000 | -871,000 | -2,153,000 | 984,000 | 2,287,000 | -3,213,000 | 3,464,000 | -407,000 | 626,000 | -232,000 | 823,000 | -757,000 | 1,204,000 | 2,735,000 | 481,000 | -1,412,000 | 2,802,000 | -1,352,000 | 357,000 | 279,000 | 1,382,000 | -156,000 | 630,000 | -1,319,000 | 1,525,000 | 124,000 | 392,000 | -2,107,000 | 2,974,000 | 55,000 | 5,000 | -71,000 | ||
repurchases of common stock in accrued expenses | ||||||||||||||||||||||||||||||||||||||||||||
settlement of capped call options related to the 2025 convertible notes | 0 | |||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash and cash equivalents provided by operating activities, net of acquisitions | ||||||||||||||||||||||||||||||||||||||||||||
net income | -21,793,000 | 5,934,000 | ||||||||||||||||||||||||||||||||||||||||||
benefit from deferred income taxes | -335,000 | -1,533,000 | -191,000 | -152,000 | -246,000 | -1,548,000 | -201,000 | -114,000 | -1,006,000 | |||||||||||||||||||||||||||||||||||
repayment of 2025 convertible notes | -90,568,000 | |||||||||||||||||||||||||||||||||||||||||||
restructuring charges | 2,325,000 | 0 | 62,657,000 | 2,281,000 | ||||||||||||||||||||||||||||||||||||||||
changes in assets and liabilities, net of acquisition | ||||||||||||||||||||||||||||||||||||||||||||
accrued expenses and other current liabilities | ||||||||||||||||||||||||||||||||||||||||||||
sale of investments | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
acquisition of a business, net of cash acquired | 0 | 0 | 0 | -16,810,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from settlement of convertible note hedges related to the 2022 convertible notes | 0 | 0 | 8,256,000 | 4,000 | 2,000 | 723,000 | 1,062,000 | 0 | ||||||||||||||||||||||||||||||||||||
payments for settlement of warrants related to the 2022 convertible notes | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
payment for settlement of 2022 convertible notes | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
repayment of 2025 convertible notes attributable to the principal | 0 | 0 | 0 | -1,619,000 | ||||||||||||||||||||||||||||||||||||||||
effect on exchange rate changes on cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of year | ||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, end of year | ||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets obtained in exchange for operating lease facilities | ||||||||||||||||||||||||||||||||||||||||||||
right-of-use asset reductions related to operating lease terminations | -6,172,000 | 7,000 | 18,000 | -1,235,000 | 0 | |||||||||||||||||||||||||||||||||||||||
asset retirement obligations | 2,000 | 265,000 | -358,000 | -108,000 | -22,000 | -26,000 | -27,000 | 1,188,000 | 0 | 0 | 612,000 | 0 | 87,000 | 908,000 | 589,000 | -131,000 | 97,000 | 149,000 | 101,000 | 172,000 | 3,000 | |||||||||||||||||||||||
equity method investment | -1,650,000 | 0 | -792,000 | -2,308,000 | ||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents from (used) in investing activities | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents from operating activities, net of acquisitions | ||||||||||||||||||||||||||||||||||||||||||||
loss on early extinguishment of 2022 convertible notes | 68,000 | 1,736,000 | 682,000 | 2,406,000 | 14,000 | 0 | ||||||||||||||||||||||||||||||||||||||
repayment of 2022 convertible notes attributable to the debt discount | -1,971,000 | -11,429,000 | -3,223,000 | -9,805,000 | -373,000 | 0 | ||||||||||||||||||||||||||||||||||||||
gain on termination of operating leases | 0 | |||||||||||||||||||||||||||||||||||||||||||
loss on disposal of fixed assets | 0 | |||||||||||||||||||||||||||||||||||||||||||
amortization of bond discount | -8,008,000 | -5,851,000 | -3,117,000 | -735,000 | 585,000 | 1,332,000 | 1,273,000 | 1,155,000 | 515,000 | |||||||||||||||||||||||||||||||||||
proceeds from sale of strategic investments | ||||||||||||||||||||||||||||||||||||||||||||
payments for equity method investments | ||||||||||||||||||||||||||||||||||||||||||||
purchase of strategic investments | -1,850,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of common stock for repayment of 2022 convertible notes | 271,096,000 | 54,609,000 | 155,250,000 | 0 | ||||||||||||||||||||||||||||||||||||||||
provision on (benefit from) deferred income taxes | 47,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of 2025 convertible notes, net of issuance costs paid of 9.9 million | 0 | |||||||||||||||||||||||||||||||||||||||||||
payments for capped call options related to the 2025 convertible notes | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
repayment of finance lease obligations | ||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents, and restricted cash | -6,789,000 | -7,825,000 | -1,649,000 | -3,117,000 | 668,000 | -3,877,000 | 2,505,000 | 1,670,000 | -1,814,000 | -1,973,000 | 586,000 | -784,000 | -321,000 | -1,675,000 | 677,000 | |||||||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | ||||||||||||||||||||||||||||||||||||||||||||
repayment of 2022 convertible notes attributable to the principal | -9,097,000 | -35,019,000 | -9,509,000 | -35,900,000 | -1,627,000 | 0 | ||||||||||||||||||||||||||||||||||||||
equity method investments | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from common stock offering, net of offering costs paid of 365 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
repayment of debt | ||||||||||||||||||||||||||||||||||||||||||||
repayments of finance lease obligations | 0 | 2,000 | -30,000 | -44,000 | -87,000 | -118,000 | ||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of 2025 convertible notes, net of issuance costs paid of 9.4 million | ||||||||||||||||||||||||||||||||||||||||||||
2025 convertible notes issuance costs incurred but not paid | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
non-cash rent expense | ||||||||||||||||||||||||||||||||||||||||||||
deferred rent | 1,812,000 | 81,000 | 3,954,000 | -48,000 | -22,000 | -21,000 | 3,636,000 | -34,000 | -32,000 | -41,000 | -11,000 | -23,000 | 13,000 | 114,000 | 40,000 | |||||||||||||||||||||||||||||
benefit for deferred income taxes | -165,000 | -257,000 | -28,000 | -5,581,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from common stock offering, net of offering costs paid of 256 | 342,739,000 | |||||||||||||||||||||||||||||||||||||||||||
common stock offering costs, incurred but not yet paid | 109,000 | |||||||||||||||||||||||||||||||||||||||||||
deferred income tax expense | ||||||||||||||||||||||||||||||||||||||||||||
accretion of bond discount premium | ||||||||||||||||||||||||||||||||||||||||||||
lease liabilities | -993,000 | -4,626,000 | -6,052,000 | -4,110,000 | ||||||||||||||||||||||||||||||||||||||||
maturities and sales of investments | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs paid of 10,767 | ||||||||||||||||||||||||||||||||||||||||||||
purchase of note hedge related to convertible notes | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from the issuance of warrants related to convertible notes, net of issuance costs paid of 200 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
noncash lease expense | ||||||||||||||||||||||||||||||||||||||||||||
right of use assets obtained in exchange for operating lease liabilities | 52,000 | 69,282,000 | 12,410,000 | |||||||||||||||||||||||||||||||||||||||||
amortization of bond discount premium | -1,164,000 | -829,000 | -692,000 | |||||||||||||||||||||||||||||||||||||||||
acquisition of a business and purchase of technology | 0 | |||||||||||||||||||||||||||||||||||||||||||
repayment of capital lease obligations | ||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired under capital lease | -14,000 | 506,000 | 300,000 | 247,000 | 275,000 | |||||||||||||||||||||||||||||||||||||||
noncash rent expense | 367,000 | 811,000 | 794,000 | 1,344,000 | 1,332,000 | 1,667,000 | 744,000 | 837,000 | 1,112,000 | 19,000 | 24,000 | 168,000 | 50,000 | |||||||||||||||||||||||||||||||
accrued expenses | -1,876,000 | 3,957,000 | 1,674,000 | 1,357,000 | -131,000 | 6,047,000 | 922,000 | 267,000 | 1,800,000 | 3,091,000 | -1,154,000 | 2,552,000 | -9,000 | 3,890,000 | 652,000 | 2,542,000 | ||||||||||||||||||||||||||||
repayments of capital lease obligations | -175,000 | -205,000 | -212,000 | -269,000 | -278,000 | -240,000 | -209,000 | -177,000 | -142,000 | -58,000 | -25,000 | -24,000 | ||||||||||||||||||||||||||||||||
proceeds of the issuance of convertible notes, net of issuance costs paid of 10,767 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from the issuance of warrants related to convertible notes, net of issuance costs of 200 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds of the issuance of convertible notes, net of issuance costs paid 10,755 in 2017 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from the issuance of warrants related to convertible notes, net of issuance costs of 200 in 2017 | ||||||||||||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents, and restricted cash | -55,948,000 | 67,215,000 | ||||||||||||||||||||||||||||||||||||||||||
convertible notes offering costs incurred but not yet paid | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents from (used in) operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
deferred income tax benefit | ||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 1,000 | 2,000 | -158,000 | -4,431,000 | 0 | |||||||||||||||||||||||||||||||||||||||
proceeds from common stock offerings, net of offering costs paid of 583 | ||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -89,063,000 | 1,121,000 | 105,836,000 | 10,084,000 | -1,737,000 | 2,778,000 | 5,642,000 | -2,561,000 | 5,654,000 | |||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of year | ||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, end of year | ||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | 689,000 | 1,416,000 | 428,000 | 125,000 | -236,000 | 538,000 | ||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 59,702,000 | 0 | 0 | 55,580,000 | 0 | 0 | 123,721,000 | |||||||||||||||||||||||||||||||||||
cash and cash equivalents, end of period | 1,121,000 | 105,836,000 | 69,786,000 | 2,778,000 | 5,642,000 | 53,019,000 | -15,426,000 | -55,140,000 | 129,375,000 | |||||||||||||||||||||||||||||||||||
proceeds of the issuance of convertible notes, net of issuance costs paid of 10,755 | ||||||||||||||||||||||||||||||||||||||||||||
amortization of bond premium discount | 77,000 | 136,000 | 190,000 | 221,000 | 246,000 | 190,000 | 2,000 | |||||||||||||||||||||||||||||||||||||
provision for income taxes | ||||||||||||||||||||||||||||||||||||||||||||
amortization of bond premiums | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of a business | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
acquisition of intangible assets | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from common stock offerings, net of offering costs paid of 583 in 2015 and 2,924 in 2014 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from draw-down on line of credit | 0 | |||||||||||||||||||||||||||||||||||||||||||
payments on line of credit | ||||||||||||||||||||||||||||||||||||||||||||
ipo costs incurred but not yet paid | ||||||||||||||||||||||||||||||||||||||||||||
accretion of preferred stock | 291,000 | |||||||||||||||||||||||||||||||||||||||||||
conversion of preferred stock to common stock | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents provided by (used in) operating activities | ||||||||||||||||||||||||||||||||||||||||||||
secondary offering proceeds, net of offering costs paid of 583 | ||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents paid for interest | 62,000 | 17,000 | 87,000 | 30,000 | 80,000 | 29,000 | ||||||||||||||||||||||||||||||||||||||
cash and cash equivalents paid for income taxes | 426,000 | 124,000 | 73,000 | |||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents from operating activities | ||||||||||||||||||||||||||||||||||||||||||||
changes in assets and liabilities, net of acquisitions | ||||||||||||||||||||||||||||||||||||||||||||
secondary offering proceeds, net of offering costs paid of 573 | ||||||||||||||||||||||||||||||||||||||||||||
property acquired under capital lease | 216,000 | 257,000 | 296,000 | |||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents from (used in) operating activities | ||||||||||||||||||||||||||||||||||||||||||||
secondary offering proceeds, net of offering costs paid of 138 | 34,114,000 | |||||||||||||||||||||||||||||||||||||||||||
offering costs incurred but not yet paid | 295,000 | |||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
maturity of investments | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents used in operating activities | ||||||||||||||||||||||||||||||||||||||||||||
provision for doubtful accounts | 463,000 | 245,000 | 209,000 | 180,000 | ||||||||||||||||||||||||||||||||||||||||
payment of deferred initial public offering costs | ||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -15,426,000 | |||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash | 50,000 | -408,000 | ||||||||||||||||||||||||||||||||||||||||||
acquisition of business | -600,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from exercise of options | 555,000 | 743,000 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from employee stock purchase plan | 411,000 | |||||||||||||||||||||||||||||||||||||||||||
noncash interest expense | ||||||||||||||||||||||||||||||||||||||||||||
acquired of intangible assets | ||||||||||||||||||||||||||||||||||||||||||||
ipo proceeds, net of offering costs paid of 2,924 | ||||||||||||||||||||||||||||||||||||||||||||
net proceeds from issuance of redeemable convertible | ||||||||||||||||||||||||||||||||||||||||||||
effect on exchange rate changes: | ||||||||||||||||||||||||||||||||||||||||||||
cash, beginning of year | ||||||||||||||||||||||||||||||||||||||||||||
ipo costs incured but not yet paid | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities | ||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | ||||||||||||||||||||||||||||||||||||||||||||
capital expenditures | ||||||||||||||||||||||||||||||||||||||||||||
free cash flows | ||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | ||||||||||||||||||||||||||||||||||||||||||||
payment of initial public offering costs | ||||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | ||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash | ||||||||||||||||||||||||||||||||||||||||||||
cash, beginning of period | ||||||||||||||||||||||||||||||||||||||||||||
cash, end of period | ||||||||||||||||||||||||||||||||||||||||||||
initial public offering costs incurred but not yet paid |